Scenarios

ATO Debt

Client operated a successful transport business but found themselves with a significant ATO Debt. Portions of this debt were disputed by the client but the ATO continued with a Wind Up Order. Client sought The Finance Professionals assistance to urgently access equity in their house to pay the ATO. Existing business facilities, along with over $200,000 in business credit cards, and the ATO debt were consolidated at significantly lower rates than they were previously paying.

Bad Credit Purchase

Clients had purchased their owner occupied property on vendor terms 3 years previously. Both male and female applicants had paid and unpaid defaults on their credit file along with numerous small unsecured loans. Vendor terms payments hadn’t been made for several months on the advice of their solicitor and the vendor was seeking to have the contract rescinded. Applicants had been to several brokers seeking help but had been turned away from them all due to the number of issues. The Finance Professionals were able to refinance all their unsecured loans, pay their outstanding defaults, as well as complete the purchase of the property.

Bad Credit Purchase

Clients had placed a deposit on a vacant block of land that they were ultimately going to build their first home on. They initially wished to settle the land first with the intention of building in the future once they had saved additional funds. They approached their bank who advised them that due to an unknown default on the males credit file they would be unable to help. With settlement looming, they then turned to several brokers who advised them that due to the males short term casual employment and an 80% LVR on land only, they would be unable to help. Upon contacting The Finance Professionals an approval was quickly gained for the full 80% and settlement was achieved on time.

Low Doc Refinance

Applicant ran a successful cleaning business but was unable to provide up to date financials. They sought to refinance an existing investment property mortgage to access the equity in the property to help them purchase a new owner occupied one. Using the applicants last 6 months Business Trading Statements, The Finance Professionals were successful in claiming the applicant operated at a higher than average profit margin than standard due to their business model. This saw the applicant being successful in their refinance and subsequent purchase of a new owner occupied property.

Low Doc Development

Applicants were self employed builders who had obtained permits for a 2 unit development in Melbourne’s bayside. Being unable to provide the last 2 years Financials and Tax Returns and also not wanting to presell any they were locked out of traditional funding. The Finance Professionals once engaged provided a solution that enabled the borrowers to access construction funds via an Accountants Declaration only. Additionally presales weren’t required allowing the applicants to maximise their sale price.

Private Mortgage

Applicants approached The Finance Professionals requiring short term funds to complete a 2 unit development in Melbourne’s south. Properties were at Lock Up Stage with funds to be used to complete the Fit Out. One of the units was to be sold upon completion. The Finance Professionals were able to quickly source these funds, secured by a Caveat/2nd Mortgage, allowing the builder to continue without delay.

Phone:1300 678 310

Email: info@thefinanceprofessionals.net.au

Address: 1 Elgin Place, Hawthorn VIC 3122

PO BOX 402, Richmond VIC 3121

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